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HomeMarket NewsUS Stock Market Highlights: Dow surges 2,900 points, S&P 500 posts biggest gain since 2008 on Trump tariff reversal
US Stock Market Highlights: US stocks posted their strongest rally in years on Wednesday (April 9) after US President Donald Trump announced a pause on certain "reciprocal" tariffs, easing investor concerns that had gripped markets over the past week.
US Stock Market Highlights: US stocks posted their strongest rally in years on Wednesday (April 9) after US President Donald Trump announced a pause on certain "reciprocal" tariffs, easing investor concerns that had gripped markets over the past week.
The Dow Jones Industrial Average surged 2,962.86 points, or 7.87%, to close at 40,608.45, marking its largest one-day gain since March 2020. The S&P 500 spiked 9.52% to 5,456.90, its biggest single-session rise since 2008, while the Nasdaq Composite skyrocketed 12.16% to 17,124.97, notching its second-best day ever and largest gain since January 2001.
"I have authorized a 90 day PAUSE," Trump said, after recognizing the more than 75 countries that he said have been negotiating on trade and had not retaliated against his latest increases in tariffs.
Treasury Secretary Scott Bessent later told reporters that Trump was pausing his so-called ‘reciprocal’ tariffs on most of the country’s biggest trading partners, but maintaining his 10% tariff on nearly all global imports. China was a huge exception, with tariffs going up to 125% against its products.
